Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL) Trading 6.6% Higher – What’s Next?

Direxion Daily Semiconductors Bull 3x Shares (NYSEARCA:SOXL)’s stock price rose 6.6% during trading on Friday . The company traded as high as $28.92 and last traded at $28.75. Approximately 27,647,955 shares were traded during trading, a decline of 63% from the average daily volume of 75,388,344 shares. The stock had previously closed at $26.98.

Direxion Daily Semiconductors Bull 3x Shares Stock Performance

The firm has a market capitalization of $7.68 billion, a P/E ratio of 37.08 and a beta of 5.47. The firm has a 50 day moving average price of $33.44 and a two-hundred day moving average price of $41.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC lifted its position in shares of Direxion Daily Semiconductors Bull 3x Shares by 83.6% in the 3rd quarter. Anchor Investment Management LLC now owns 1,285 shares of the company’s stock valued at $47,000 after acquiring an additional 585 shares in the last quarter. Covestor Ltd raised its stake in Direxion Daily Semiconductors Bull 3x Shares by 101.4% during the 3rd quarter. Covestor Ltd now owns 1,766 shares of the company’s stock valued at $65,000 after purchasing an additional 889 shares during the period. Signaturefd LLC lifted its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 17.6% in the third quarter. Signaturefd LLC now owns 2,000 shares of the company’s stock valued at $73,000 after purchasing an additional 300 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of Direxion Daily Semiconductors Bull 3x Shares in the third quarter worth $106,000. Finally, Hollencrest Capital Management grew its holdings in shares of Direxion Daily Semiconductors Bull 3x Shares by 2,726.7% during the third quarter. Hollencrest Capital Management now owns 2,968 shares of the company’s stock valued at $109,000 after buying an additional 2,863 shares in the last quarter.

Direxion Daily Semiconductors Bull 3x Shares Company Profile

The Direxion Daily Semiconductor Bull 3X Shares (SOXL) is an exchange-traded fund that is based on the ICE Semiconductor index. The fund provides 3x daily exposure to a modified market-cap-weighted index of 30 US-listed semiconductor companies. SOXL was launched on Mar 11, 2010 and is managed by Direxion.